(1) he will use the extra profits to expand his operations … - Henry Hazlitt

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(1) he will use the extra profits to expand his operations by buying more machines to make more coats; or (2) he will invest the extra profits in some other industry; or (3) he will spend the extra profits on increasing his own consumption. Whichever of these three courses he takes, he will increase employment.

Henry Hazlitt

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About Henry Hazlitt

Henry Stuart Hazlitt (November 28, 1894 – July 9, 1993) was an American journalist who wrote about business and economics for such publications as The Wall Street Journal, The Nation, The American Mercury, Newsweek, and The New York Times.

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Alternative Names: Henry Stuart Hazlitt

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John Maynard Keynes Milton Friedman Friedrich Hayek John Kenneth Galbraith Jean-Baptiste Say

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The function of profits, finally, is to put constant and unremitting pressure on the head of every competitive business to introduce further economies and efficiencies, no matter to what stage these may already have been brought.

need is not demand. Effective economic demand requires not merely need but corresponding purchasing power.

..either immediately or ultimately every dollar of government spending must be raised through a dollar of taxation. Once we look at the matter. In this way, the supposed miracles of government spending will appear in another light.

(1) he will use the extra profits to expand his operations by buying more machines to make more coats; or (2) he will invest the extra profits in som… - Henry Hazlitt

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